UofL trustees approve changes to Yum Center lease

UofL trustees approve changes to Yum Center lease

Jul. 20, 2017

LOUISVILLE, Ky. (AP) — University of Louisville trustees have approved changes to the school's lease deal with the KFC Yum Center and the Louisville Arena Authority.

Media report the trustees' action came after UofL's athletic association signed off on the changes earlier Thursday. The arena is home to UofL's men's and women's basketball teams and also stages concerts and other events.

The Courier-Journal reports UofL is expected to pay the arena authority an additional $2.42 million each year, plus the roughly $1.3 million to $1.8 million that the university already contributes. The additional payments mean the university would contribute $75 million more toward the lease over the next 30 years.

The university also will relinquish control of all dates during October, which would allow the arena to book more revenue-producing shows, under the deal.